Mr. Speaker, the Minister of Finance commented on the bank rate yesterday. The Minister of Finance has the authority under the Bank Act to put pressure on the governor to change the rates if he wants to do so.
On top of this, the Toronto-Dominion Bank and the Royal Bank of Canada yesterday announced record increases in profits in this country. An increased bank rate will mean more money for big banks and less money for ordinary citizens.
I ask once again, in light of the fact that a bank rate increase could also increase the service charge on the national debt by billions of dollars, will the Deputy Prime Minister change his mind, talk to the governor of the Bank of Canada and ask him to roll back the bank rate because inflation is dropping? All he is doing is slowing down the Canadian economy.